It is a new safe, reliable and fast money transfer service being offered to customers that have an account with BBVA. It allows customers to send money to 20 different countries including Mexico and most countries in Latin America.
Customers can choose either to send money from a BBVA account or to send cash. They can also choose where and how their beneficiaries receive the money – either for cash pick up or a deposit into their account at the money transfer payment bank (note: not all payment banks have the direct deposit service).
To transfer money, the customer must go to a participating BBVA branch.
To initiate an international money transfer, the customer needs to have a valid U.S. or foreign issued ID (including foreign passport, Consular ID, Mexican Voting Card and Mexican Drivers License).
They must also provide:
The money will be available in the destination country in no more than 15 minutes after it was sent. If the money will be picked up in cash, it must be picked up during the payment entity’s regular business hours. If the money will be deposited into the beneficiary’s bank account, the money will be available 24 hours a day through the payment bank’s ATM network.
Up to $3,000 can be sent each day, with a maximum amount of $10,000 that can be sent in a 30 day period.
All purchases made with a BBVA Visa Business Debit Card are automatically deducted from your business checking account, so there are no finance charges and no monthly bills. Purchases are detailed on your monthly checking account statement, which makes it easy to track business spending.
There are no enrollment fees or monthly service fees to use this service. The fees for individual transfers can range from zero money transfer fee (for BBVA Preferred Clients) up to $5.00 for customers with a BBVA checking or savings account sending up to $3,000 per day.
No, they will not be charged anything to receive or pick up the money. Any applicable fees charged will be paid by the person sending the money transfer.
BBVA which is part of the BBVA Group, one of the largest and soundest financial institutions in the world, has been a pioneer in the International Money Transfer business. Because of this, BBVA has access to one of the largest money transfer payment networks in Mexico and Latin America. Our primary concern is ensuring the safety of the money being sent as well as providing the customer sending the money and the customer receiving the money the best value for their money – a fast, safe, and economical way to send money.
*Secure Send International Money Transfer Service available to BBVA deposit account holders. Subject to certain exceptions. Inquire at branch for details. *There is a $5 commission. Maximum remittance amount per day is $3000. BBVA may also obtain a monetary gain from the foreign exchange conversion of some transaction represented by the difference in the retail exchange rate and the wholesale exchange rate at which BBVA purchases the foreign currency. Other terms and conditions may apply.
New consumer checking accounts: $25 minimum opening deposit required. Accounts subject to approval. Miscellaneous fees may apply.
BBVA and BBVA Compass are trade names of BBVA USA, Member FDIC.